Assistant Manager / Deputy Manager - Settlements

STADA PHARMA SERVICES INDIA PRIVATE LIMITED

Job title: Assistant Manager/ Deputy Manager Settlements Specialist

Location: Navi Mumbai

About us:

STADA is a leading manufacturer of high-quality pharmaceuticals. With a long-standing heritage rooted in pharmacies, we are perceived as a reliable and trustworthy partner for more than 125 years. With our products, we help people protect and regain a dignified and able life. With our proven Generics, we ensure that everyday health remains affordable. To our employees, we offer an attractive working environment in which they can develop personally and professionally.

About the role

STADA is a global organization focused on simplifying and digitizing its commercial and financial operations to unlock growth and make processes seamless and easy to work with. The Tender & Retail Settlement function plays a key role in ensuring transparent, reliable, and timely settlement of pharmaceutical tenders and retail agreements, with a strong focus on NSP (Net Sales Price) reconciliation and market data analysis. The position manages and analyzes market data (IQVIA, Insight Health), maintains the tender database, and serves as the main contact for suppliers on all settlement topics.

Job Responsibilities:

• Tender Settlement and NSP Reconciliation

Independently responsible for the preparation and execution of settlement calculations and reconciliations.

Scope of work:

• Preparation of tender settlement invoices/calculations for STADA AG
• NSP (Net Sales Price) reconciliation and settlement calculations for all legal entities routed through Headquarters.

Market Data Analysis and Processing

• Preparation, analysis, and processing of market data from IQVIA and Insight Health to support settlement calculations.

Supplier Management

• Primary point of contact for suppliers regarding all settlement-related inquiries, clarifications, and reconciliations.

Tender Database Management

• Maintenance of the tender database as the key steering and coordination tool for settlement activities.

Contract and Agreement Review

• Review and administration of tender agreements and rebate arrangements, taking into account minimum order quantities (MOQ) and price-tier structures.
• Verification and compliance monitoring of special contractual agreements, with a particular focus on specific requirements and combined NSP (Net Sales Price) conditions.

NSP Reconciliation Management

• Ensure detailed and accurate execution of NSP reconciliations for tenders in close coordination with relevant business functions.
• Collaborate closely with affiliates and ESO (External Supply Operations) to ensure smooth and efficient NSP reconciliation processes.
• Conduct plausibility checks of all relevant data to ensure data integrity, consistency, and reliability.
• Manage and resolve challenges related to routing and repackaged products while ensuring transparent documentation.

Biosimilars Management

• Focus on biosimilars by ensuring the accurate and highly complex execution of settlement and reconciliation processes, reflecting their strategic importance within the portfolio.

Month-End Closing Activities

Financial Closing and Accounting

• Calculation of planned receivables and accruals/provisions, including full execution of the posting process as part of the monthly closing activities.
• Monitoring incoming settlements and managing collections and dunning processes.
• Execution of the complete settlement process within CORA, including detailed account reconciliations and reviews to ensure accurate accounting and financial reporting.

Key Competencies Required

Education

• Graduate/post-graduate in Commerce, Finance, Accounting or similar.

Professional Experience

• Minimum of 4-6 years of relevant professional experience.
• Able to apply common sense and logical thinking, especially around financial transactions & calculation.
• Proactive communication skills with multiple stakeholders, taking ownership and accountability.

Technical Skills

• Strong MS Office skills, particularly Excel.
• Solid knowledge of SAP (ERP and BW modules).
• Good command of English, both written and spoken.

Financial and Business Knowledge

• Solid understanding of key financial metrics, including Net Sales and revenue deductions (gross-to-net adjustments), with the ability to analyse and interpret these metrics for operational business purposes.

Industry Knowledge

• Knowledge of the pharmaceutical market.
• Understanding of pharmaceutical tender business processes and commercial tender agreements.
• Knowledge about German healthcare system is a plus.